Remittances from Egyptians working abroad witnessed consecutive surges backed by the economic reform measures, implemented in March 2024, with a 68.4% increase in October 2024 to reach approximately $2.9 billion, compared to around $1.7 billion in October 2023.
Remittances during July/October 2024 rose by 80.0% to record around $11.2 billion (compared to approximately $6.2 billion in the corresponding period a year earlier).
Accordingly, remittances recorded, during the first ten months of 2024 (from January to October 2024), 45.3% increase to reach about $23.7 billion (compared to nearly $16.3 billion during the same period in 2023).
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